Global Bovine Lactoferrin Market is Expected to Grow USD 242.03 Million by 2027
Fior Markets launched a study titled Bovine Lactoferrin Market by Type (Freeze-dried and milled and Spay dried powder), Application (Infant formula, Dietary supplements, and Pharmaceutical), Regions, and Global Forecast 2020-2027.
The global Bovine Lactoferrin market is expected to grow from USD 151.37 million in 2019 to USD 242.03 million by 2027, at a CAGR of 6.00% during the forecast period from 2020-2027. Asia Pacific accounted for the highest CAGR of 6.23% in 2019. The growth is mainly attributed to the growing consumption of bovine lactoferrin among the infants in the Asia Pacific region, especially in Japan, China, countries where women don’t prefer breastfeeding.
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Key players in the global Bovine Lactoferrin market Fonterra Group, Bega Cheese, FrieslandCampina, Glanbia Nutritionals, Tatuaamong, and among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain a significant market share in the global Bovine Lactoferrin market. Glanbia Cheese, the combined business between Glanbia plc and Leprino Foods broadcasts strategies to shape a new, world-class mozzarella cheese procesing facility in Portlaoise, Co Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of Euros 130 million will be invested in this world-class facility, which is supported by the Government of Ireland through Enterprise Ireland.
Dairy co-operative Fonterra announced strategies to make it easier for more dairy farmers to get into their farms, and to grow with the Co-op, by extending its My Milk initiative to the North Island.
The type segment includes Freeze-dried and milled and Spay dried powder. Freeze-dried and milled was valued at USD 99.56 million in 2019. Due to the rising number of consumption of bovine lactoferrin by infants having gut problem by drinking mothers milk which contains bacteria which are not digested by infant’s stomach.
The application segment includes Infant formula, dietary supplements, and pharmaceutical. Nutritional supplements were valued at USD 73.48 million in 2019. Growing consumption of bovine lactoferrin as a dietary supplement to defend from different types of bacterial and viral infections and its significant influence on neural growth, memory, cognition, and support the emerging brain to function to its full potential.
About the report:
The global Bovine Lactoferrin market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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